RE: Did the USA just make algorithmic stable coins illegal?
(Edited)
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I was just asking about HBD's legal status (for other reason), and how it effects Hive regarding multi-wallets, exchanges listings, how big threat they see in HBD.
Blocktrades answered, there is no legal issue with HBD. Looks like, it's not just me, who think potential third parties see risk in Hive because of HBD.
His explanation, that it doesn't fall in the LUNA stablecoin category is pretty simple. :) HBD was here before.... :)
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Thank you for the information.
@blocktrades is a very knowledgable developer on Hive now and previously on Steem. He also runs a witness.
I appreciate any information he has to share, and I believe it is 100% correct.
HBD is thinly traded and because it is, he is absolutely correct it doesn't fulfill the same role as USDT, mainly a place to park your profits from speculation on altcoins or bitcoin.
HBD has an important role here on Hive and a profitable one.
I agree with what he says about the Bots. Did he offer any information about where those bits originate, and does he participate?
No, he didnt.
I never looked into stablecoins, although, i have some staked, so just try to find out generally the risks about the crypto backed, algorithmic ones, and how these can effect negatively the chain where they are. HBD-Hive, too.
Now this law thing is another interesting topic, maybe not right now, but definetly within 1-2 years.
When the 'news' sites write, it is banned, probably doesnt mean they are really banned.
I can't find any info about what applies for businesses and private individuals in case they still want to use it, so I just suppose, it won't really applies for them.
Probably shouldnt even start, because I am just more confused than i was before.